The Securities and Exchange Commission (SEC) announced giving more than $1.1 million award to a whistleblower, whose independent analysis led the staff to look at new conduct during an ongoing investigation. The whistleblower’s information and assistance helped the agency bring an emergency action preventing further investor harm. The whistleblower examined publicly available materials and conducted an analysis that revealed new insights into the securities law violations, which helped the Commission protect investor assets from dissipation by the wrongdoer.
Jane Norberg, Chief of the SEC’s Office of the Whistleblower said:
Today’s award reflects the Commission’s commitment to award whistleblowers who provide high-quality independent analysis. Whistleblowers who devote time and effort to develop unique insights may afford the Commission important information about possible securities laws violations.